EPAM Systems Unveils Strategies to Overcome Tech Talent Shortage in New Study
November 15, 2023
☀️Trending News
EPAM ($NYSE:EPAM) Systems, a global provider of digital platform engineering and software development services, recently unveiled strategies to overcome the tech talent shortage in a new study conducted by its consulting arm, EPAM Continuum. The strategies EPAM Systems outlined include leveraging high-performance technologies, running skill-focused recruitment campaigns, and reskilling existing personnel.
In addition, the study found that companies were increasingly looking for tech professionals with specific skill sets to help close the tech talent gap. The company has been a leader in the IT services industry for over two decades and has established itself as an innovation leader in the industry. EPAM Systems is dedicated to helping its customers solve complex challenges by leveraging its expertise in advanced technology, engineering, design, AI, and mobility.
Stock Price
This study was released in response to the increasing difficulties companies are facing in finding qualified tech professionals. It emphasizes the importance of investing in technology training, leveraging industry resources, and expanding recruiting efforts by partnering with universities, job boards, and career networks. The study also highlights the need to create an attractive employee experience, such as offering competitive salaries, comprehensive benefits, and flexible work schedules.
Additionally, it recommends utilizing innovative recruitment strategies, such as offering internships and apprenticeships to early-career professionals. Finally, it suggests investing in employee engagement and retention initiatives to ensure that top talent remains with the company. On Friday, EPAM Systems stock opened at $238.6 and closed at $235.4, down by 0.7% from prior closing price of 237.0. This study highlights the company’s commitment to addressing the ever-evolving tech talent shortage issue by providing valuable insights into successful strategies for overcoming it. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Epam Systems. More…
| Total Revenues | Net Income | Net Margin |
| 4.76k | 474.57 | 10.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Epam Systems. More…
| Operations | Investing | Financing |
| 614.82 | -182.93 | -2.02 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Epam Systems. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.16k | 862.25 | 57.19 |
Key Ratios Snapshot
Some of the financial key ratios for Epam Systems are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 22.9% | 17.8% | 12.1% |
| FCF Margin | ROE | ROA |
| 11.7% | 11.0% | 8.6% |
Analysis
GoodWhale conducted an analysis of EPAM SYSTEMS‘s fundamentals and found that the company has a high health score of 10/10 with regard to its cashflows and debt. This indicates that EPAM SYSTEMS is in a strong financial position and is capable of paying off debt and funding future operations. Moreover, our research classified EPAM SYSTEMS as a ‘gorilla’, a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Due to its strong fundamentals, EPAM SYSTEMS could be an attractive target for value investors who are looking for long-term capital appreciation and strong returns. Additionally, growth investors may also be interested in EPAM SYSTEMS as it is strong in asset, growth, and profitability. However, EPAM SYSTEMS weak point is its dividend, as it does not offer high dividend yields to investors. More…
Peers
The company has over 25,000 employees and clients in over 90 countries. EPAM Systems Inc. has been ranked as one of the world’s largest and fastest-growing outsourcing companies by several magazines. The company’s main competitors are Tranway Technologies Ltd, Mahaveer Infoway Ltd, and Indata SA.
– Tranway Technologies Ltd ($BSE:542923)
Tranway Technologies is a leading provider of transportation solutions. The company’s products and services are used by transportation professionals in a variety of industries, including aviation, maritime, and land transportation. Tranway’s products and services are designed to improve the efficiency and safety of transportation operations. The company’s products and services are used by transportation professionals in a variety of industries, including aviation, maritime, and land transportation.
– Mahaveer Infoway Ltd ($BSE:539383)
Mahaveer Infoway Ltd is a company that provides information technology services. It has a market cap of 35.64M as of 2022 and a return on equity of 5.35%. The company offers services such as software development, web development, and e-commerce solutions. It also provides IT consulting and support services. The company has its headquarters in Bangalore, India.
Summary
EPAM Systems recently conducted a Continuum Study to better understand the tech talent shortage and how to address it. The analysis revealed key insights about investing in talent, such as the need to invest in employee competency development, new technologies, and innovative solutions. EPAM Systems found that companies must enhance their employee engagement and career development, as well as create adaptive, flexible, and transparent work environments that provide competitive salaries.
Additionally, companies should consider investing in talent retention strategies and improving the candidate experience. Overall, the study found that investing in talent can help companies remain competitive in today’s tech-driven marketplace.
Related Posts
Recent Posts
Investing Everyone Can Do.
Investing shouldn’t be exclusive to a select few. We believe everyone should have the opportunity to grow their wealth. That’s why our app is designed to be accessible and user-friendly, even for beginners.
